Suppose that consumers would like to purchase 10 million dvds but only 5 million are available. in order for the market to coordinate the demand and supply for dvds, the price of dvds will have to:

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07-12-2018
Business

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Suppose that consumers would like to purchase 10 million dvds but only 5 million are available. in order for the market to coordinate the demand and supply for dvds, the price of dvds will have to:

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fatimakincsem fatimakincsem · Answer 1 · 2018-12-16T16:56:17+01:00

Answer: in the given hypothetical statement above in order for the market to coordinate the demand and supply for dvds, the price of dvds will have to increase. When the price of dvds increase the supply will increase too, because the suppliers will now have a greater profit margin than before. On the other hand, the demand will decrease because of the higher prices and in this way the demand and supply curves will reach an equilibrium.